On a typical electronic venue, participants generally submit requests for transactions in items for interest. Examples of such requests include requests for trading stocks, bids on an article in an auction, requests for trading tickets to sports events, etc. Often, transactions in the items of interest occur at not just one venue but at several different venues. The transaction at one venue can affect the item price at other venues and, as a result, the price of an item of interest at a particular venue is generally affected by transactions at one or more other venues. A typical venue, therefore, receives transaction information or data about various items from several venues and other sources of information. Using the received information/data, the venue may update the price(s) of item(s) of interest. The venue participants usually rely on the venue, e.g., as part of a price matching/guarantee program, in accordance with regulation (such as the trade through prohibition under the U.S. Regulation NMS), etc., to access such information/data and to provide up to date price(s) for the item(s) for transactions in such item(s) that are requested by the venue participants.
Advances in communication and data processing technology have allowed some venue participants to access information affecting item prices from various sources before the venue does. These participants may use that information to compute updated prices of the item(s) of interest, and may send transaction request(s) to the venue, before the venue computes the updated price(s). These transaction requests may be based on the data received by these participants and/or the updated prices computed by such participants. Therefore, in executing transactions, these participants can gain an advantage over other venue participants, who lack knowledge of the latest data and updated item prices because they rely on the venue for that data and prices. In some situations, the other participants may suffer harm such as losing a bid to an item of interest, paying more than necessary for a purchased item, and/or receiving less than full, up to date price for a sold item, etc.